Liberty Mutual Re names Gilardi head of international casualty treaty
Liberty Mutual Re has promoted Vincent Gilardi to lead its international treaty casualty book.
EU watchdog to probe insurer cyber exposures
Europe’s insurance watchdog is seeking industry feedback on plans to establish a framework to assess insurers’ financial resilience under severe cyber incident scenarios including ransomware attacks and data breaches.
Corvus in talks with ILS funds and other capacity providers to support growth
Corvus is in discussions with various capacity providers including ILS funds to support its growth, while the cyber MGA is also actively hiring to support its broader continental European ambitions as it prepares to begin writing business in Germany and Austria early next year.
Helvetia commits to non-life P&C with Sa Nostra Vida sale
Helvetia Group has completed the sale of its stake in Spanish life insurer Sa Nostra Vida to Caixabank for €262mn, in a move the Swiss insurer said would strengthen its non-life P&C business.
Liberty Mutual exploring $1bn sale of European operations: reports
Liberty Mutual is reportedly mulling a sale of its operations in Spain, Portugal and Ireland.
Tokio Marine Europe names Herrero as CEO
Tokio Marine HCC International (TMHCCI) has named Vanesa Herrero as CEO of Tokio Marine Europe.
Zurich Insurance to move holding company from Ireland due to Brexit
Zurich Insurance Group has unveiled plans to shift its European Economic Area holding company, Zurich Insurance plc (ZIP), to Germany from Ireland following Britain’s departure from the EU.
AM Best: Captives face 1.1 price increases but transition risk presents opportunities
The hardening reinsurance market provides opportunities for European captives to demonstrate their value, AM Best has said, but the rating agency warned that even those with good claims records are likely to face reinsurance price increases at 2023 renewals.
Insurance Europe names Sarrigeorgiou vice-president
European (re)insurance federation Insurance Europe has named Eurolife chair and CEO Alexander Sarrigeorgiou as vice-president with a mandate running until June 2025.
French mutuals among frontrunners in early bidding for CCR Re
Two rival consortiums of French mutual insurance companies, a private equity fund and a Cayman Islands-based reinsurer are among the bidders seeking to acquire a stake in state-backed CCR’s open market international reinsurer CCR Re.
Ireland’s govt is 90% finished with insurance reform programme
The Irish government has confirmed that around 90 percent of actions have now been completed or are ongoing within its sweeping insurance reform programme, which was launched two years ago in a bid to make the country’s insurance sector more competitive and consumer-friendly.
Marsh appoints Adamantiadis as continental Europe CEO
Marsh has named Christos Adamantiadis as CEO for continental Europe, succeeding Siegmund Fahrig who is set to retire from the business at the end of the year.
LSM names Garcia Larriu to lead Spanish business
Liberty Specialty Markets (LSM), part of Liberty Mutual’s Global Risk Solutions division, has appointed Alfonso Garcia Larriu as general manager of insurance, Spain.
Scor names corporate travel CFO Gerow to board of directors
Scor has appointed Martine Gerow to the board of directors, replacing Kory Sorenson until the end of Sorenson’s term of office at the 2023 general meeting.
Accredited Europe targeting “mega MGA” opportunities
Accredited Europe CUO Magnus Heimann has said the R&Q-owned program manager is targeting long-term partnership opportunities with “mega MGAs”, in addition to established mid-sized players, at a time when the European market is seeing an influx of interest from carriers in both Asia and the US.
COP27: European (re)insurers reaffirm commitment to international climate goals
European insurers have reiterated their commitment to supporting the climate change mitigation and adaptation goals set out by the UN Paris Agreement and the European Green Deal.
PIB continues European expansion with Netherlands-based Risqwise
Private equity-backed broker consolidator PIB Group has continued its European expansion with its acquisition of Rotterdam-based insurance specialist, Risqwise B.V (Risqwise).
Corvus partners with Travelers to expand smart cyber cover to continental Europe
Specialty MGA Corvus Insurance has entered continental Europe’s cyber market after agreeing a multi-year capacity deal with Travelers.
P&C insurance stocks swept up in global markets October rally
US and European P&C insurance stocks were swept up in a widespread market rally in October which sent global equities soaring and saw all the major averages break a two-month losing streak, as investors looked to more traditional companies, like insurers, to lead the next bull market.
Swiss Re posts Q3 loss of $442mn as P&C CR climbs to 119.5%
Swiss Re has delivered a net loss of $442mn in the third quarter driven by a pre-announced $1.3bn Hurricane Ian hit.